MP Materials Corp. (NYSE:MP) Given Average Rating of “Moderate Buy” by Brokerages

MP Materials Corp. (NYSE:MP) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $22.10.

Several research firms have issued reports on MP. DA Davidson raised their target price on MP Materials from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price target on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Robert W. Baird boosted their price target on MP Materials from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets upped their price target on MP Materials from $16.00 to $18.50 and gave the stock a “market perform” rating in a report on Friday, October 25th.

MP Materials Stock Down 1.0 %

MP Materials stock opened at $20.96 on Friday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -38.81 and a beta of 2.31. The business’s 50-day moving average price is $18.96 and its 200 day moving average price is $16.39. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials has a 52 week low of $10.02 and a 52 week high of $24.01.

Insider Transactions at MP Materials

In other MP Materials news, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.45, for a total transaction of $5,535,000.00. Following the sale, the chief executive officer now directly owns 18,221,776 shares of the company’s stock, valued at $336,191,767.20. The trade was a 1.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan Corbett sold 35,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now owns 260,021 shares of the company’s stock, valued at $5,590,451.50. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 884,862 shares of company stock worth $17,484,482. Company insiders own 12.60% of the company’s stock.

Institutional Trading of MP Materials

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of MP Materials by 136.0% during the third quarter. GAMMA Investing LLC now owns 2,230 shares of the company’s stock valued at $39,000 after purchasing an additional 1,285 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in MP Materials by 204.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock worth $51,000 after purchasing an additional 2,200 shares during the period. Signaturefd LLC raised its holdings in MP Materials by 817.5% in the third quarter. Signaturefd LLC now owns 3,661 shares of the company’s stock worth $65,000 after purchasing an additional 3,262 shares during the period. KBC Group NV raised its holdings in MP Materials by 35.7% in the third quarter. KBC Group NV now owns 4,733 shares of the company’s stock worth $84,000 after purchasing an additional 1,246 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in MP Materials in the second quarter worth $72,000. 52.55% of the stock is owned by institutional investors.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.